Band Protocol and Coreum have formed a strategic partnership to connect Real World Assets (RWAs) and enterprise use cases to the Cosmos ecosystem. This collaboration aims to simplify integration and interaction across different blockchain networks, empowering developers in the decentralized landscape.
Band Protocol, known for its strong oracle solutions, will integrate with Coreum to deploy its Oracle network across the Cosmos ecosystem using the innovative CW-Band library. This partnership will enhance the utility of Band’s oracles, providing developers with efficient tools to incorporate vital external data into their blockchain applications.
Coreum stands out in the tokenization of Real World Assets by adhering to the ISO20022 financial standard. This standardization enables seamless interactions across various financial systems, improving transaction speed and reducing errors. Coreum specializes in smart contract functionalities through its Smart Tokens, making it an ideal ecosystem for businesses looking to digitize assets, support digital currencies, and develop advanced decentralized applications.
The integration of Band Protocol’s oracles with Coreum’s infrastructure empowers Coreum’s smart contracts with real-time and reliable data, essential for operational efficiency and strategic decision-making. This data integration capability is crucial for the accurate and timely execution of smart contracts within the Coreum ecosystem, especially those involving complex financial transactions and asset tokenizations.
At the core of this integration is CW-Band, a dedicated library that facilitates interaction between CosmWasm smart contracts and BandChain’s Oracle services. CW-Band allows developers to securely and efficiently access a wide range of real-world data, such as market prices and foreign exchange rates. This integration simplifies the development process and enhances the functionality of applications built on Coreum, leveraging the robustness of Band Protocol’s oracles.
The addition of CW-Band significantly enhances Coreum’s platform capabilities, enabling support for various applications. Developers can easily incorporate external data into their applications, making them more dynamic and responsive to real-world conditions. This is particularly beneficial for applications in decentralized finance (DeFi) and other sectors that rely heavily on accurate and timely data.
